Elcoteq simplifies its operating model

The purpose of this revision is to bring greater efficiency to strategy implementation, to expedite the widening of the customer base and the company's internationalization as well as to enhance decision-making. The Elcoteq Management Team (EMT) consists of Mr Jouni Hartikainen (President and CEO), Mr Jukka Jäämaa (Chief Operating Officer), Mr Teo Ottola (Chief Financial Officer), Mr Nils Kämpe (Senior Vice President, Sales and Marketing) and Mr Vesa Keränen (Senior Vice President, Corporate Development), as well as the new Senior Vice President, Human Resources to be based in Switzerland. Jukka Jäämaa acts also as the deputy to the CEO. All the EMT members report to Jouni Hartikainen. Their areas of responsibility are as follows: COO Jukka Jäämaa: geographical areas; operations, sourcing, supply chain management, and information management. CFO Teo Ottola: business control and accounting, treasury, communications and investor relations, legal affairs, and risk management. SVP Nils Kämpe: sales and marketing SVP Vesa Keränen: corporate development, business areas, mergers and acquisitions, and corporate strategy planning. SVP, human resources: human resources management and development. In addition to the EMT Elcoteq also has a Management Conference (MC), which is convened 3-4 times a year by the President and CEO. The purpose of the MC meetings is to provide a senior management forum for planning the company's operations and sharing information. The MC comprises the members of the EMT plus the following individuals: Mr Doug Brenner (President, Americas), Mr Jukka Hakkila (Senior Vice President, Legal Affairs), Mr Esko Hannula (Vice President, Design and ODM Development), Ms Tuula Hatakka (Senior Vice President, Treasury), Ms Reeta Kaukiainen (Director, Communications and Investor Relations), Mr Hannu Keinänen (President, Asia-Pacific), Mr Anssi Korhonen (Senior Vice President, Terminal Products), Mr Petteri Laaksomo (Vice President, Operations), Ms Mirja Lammi (Director, Business Control and Accounting), Mr Harri Ollila (President, Terminal Products/Europe), and Mr Esa Retva (Vice President, Sourcing, Supply Chain Management, and Information Management). The business area division between Terminal Products and Communications Network Equipment remains unchanged. Terminal Products continues to be headed by Anssi Korhonen, who reports to Vesa Keränen. The latter, in addition to his main tasks, is also responsible for the Communications Network Equipment business area. The heads of the geographical areas report to COO Jukka Jäämaa. Harri Ollila continues as President, Terminal Products/Europe and Jukka Jäämaa as President, Communications Network Equipment/Europe. Mr Bruno Cathomen (General Manager, Überlingen plant) has been named Mr Jäämaa's deputy for this position. Hannu Keinänen continues as President, Asia-Pacific, and Doug Brenner as President, Americas. The Elcoteq Design Center is directly subordinated to the President and CEO and reports to him. The organizational changes outlined above take effect immediately.